“While Sales are inching closer to the record-breaking pace of 2016, the market itself looks different…This year, it’s clear that townhomes and condominiums are leading the way.” Says the Real Estate Board of Greater Vancouver.
Market speed for the Fraser Valley is 70% which officially makes it a seller’s market. Total sales last month were 2417 which is 6% less year over year and 22% greater month over month
Median Sale price was at $659,000, which was a 9% increase year over year and a 6% increase month over month.
Active listings were at 3449 which is a 9% decrease year over year and 9% increase month over month.
9 days was the average time on the market. In comparison that is 10% less than a year ago and 10% less than the previous month.
If you are interested in getting the Real Estate Statistics for your specific area, give me and my team a call at Young Real Estate or email us at email@example.com. We do more than sell your home-we get you the best price!
Another month, another market update! The real estate market in the Fraser Valley has remained a seller’s market over the past month. We have seen average home prices rise, sales inventory slightly increase, and multiple bidding wars associated with many listings. To see last month’s stats for comparison please click here.
Here is what we saw this month for inventory, sales, and sales ratio:
Surrey had an inventory of 748 homes with 366 sales. This gives a sales ratio of 49% White Rock/South Surrey had 565 homes listed, with 166 sold. Total sales ratio of 29% North Delta had less inventory at 153 homes listed, but 91 sold giving it a sales ratio of 59%. Following that, Cloverdale had the highest sales ratio at 86% with 103 listings and 89 sales. Langley saw 232 homes listed with 183 Selling and a sales ratio 0f 79% (second highest). In Abbotsford, 288 homes were listed, 209 sold giving a high sales ratio of 73%. Last but not least, Mission had a sales ratio of 61% with 138 homes listed and 84 selling.
The upward trend of prices and low inventory continues to drive the market. Homes are selling quickly and for top dollar making this an excellent time to sell. If you or someone you know is selling, please get in touch with us at Young Real Estate by calling: 604-533-3491, or email firstname.lastname@example.org